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Petrol prices hiked by Rs 1.29, diesel by Rs 0.97

Mon, 2 Jan 2017-08:40am , New Delhi , ANI

The prices of petrol and diesel have been increased by Rs. 1.29 and Rs. 0.97 per litre with effect from midnight.

After the hike, petrol in New Delhi costs Rs. 67.39 per litre and diesel costs Rs. 55.94.

The Indian Oil Corporation Ltd has decided to effect the price changes with effect from January 1 midnight.

“The current level of international product prices of petrol and diesel and INR-USD exchange rate warrant an increase in selling price of petrol and diesel, the impact of which is being passed on to the consumers with this price revision,” the official release stated.

“The movement of prices in the international oil market and INR-USD exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes,” the statement added.